Firms should leverage EU-Singapore FTA perks: Chan Chun Sing

Singapore

WITH the European Union-Singapore Free Trade Agreement (EUSFTA) entering into force today, Minister for Trade and Industry Chan Chun Sing encouraged the Singapore business community "to look at how they can leverage the benefits that the agreement will bring" in a Facebook post on Wednesday night.

These benefits include the elimination of tariffs, reduced technical barriers, and improved access to the EU services sector and public procurement. Small and medium enterprises in particular will gain from simplified procedures at Singapore customs, less burdensome technical rules, and simplification of rules of origin, said European Chamber of Commerce Singapore president Federico Donato.